THE Central Bank of Bahrain (CBB) and the Central Bank of the UAE (CBUAE) have signed a major currency swap agreement worth BD2 billion.
The landmark deal, which has a five-year tenor, was finalised during a virtual signing ceremony by CBB Governor Khalid Humaidan and CBUAE Governor Khaled Mohamed Balama.
The agreement is designed to bolster financial and monetary co-operation while strengthening trade and investment ties between the two nations.
Mr Balama noted that the move demonstrates a shared dedication to promoting the use of local currencies.
It will also help in advancing co-operation frameworks between central banks as well as deepening regional and international partnerships to enhance financial stability.
Mr Humaidan described the agreement as a “significant milestone” that reflects the deep, long-standing ties between the leadership of Bahrain and the UAE.
He emphasised that the swap is expected to stimulate economic growth and reinforce financial stability, marking a step forward for regional financial integration.
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